When we're talking about the 5% club, that's actually being generous. 90% of small
businesses - including network marketing and other home-based businesses - don!t
make it in the first two years. Of the 10% that make it past the first two years, 90% of
those fail within ten. In the world of statistics, that leaves the average home-based
business with a longevity success rate of a mere 1%.
Sounds discouraging, right? Flip that feeling of discouragement and take it as the best
cautionary advice prior to entering your home-based business. Keep in mind that most
businesses fail due to simple, naive mistakes. People are hungry for overnight success,
and when they wake up and realize they aren't going to become immediate millionaires,
they lose that hunger and lose interest in developing their home-based businesses and
developing a solid marketing campaign. Some common components of failure are:
-Having the wrong mentor, therefore lacking the guidance and support needed to
achieve success at your home-based business.
-Going into your home-based business with an unreasonable and unrealistic mentality:
you!re not going to make thousands of dollars by snapping your fingers.
-Being disorganized and not setting aside time each day to work at your business.
-Not having a solid marketing campaign. In order to succeed, you need to know how to
attract the right target audience, how to advertise cost-effectively and how to bring traffic
to your website.
-Ignoring the pertinent details that are crucial to online success, such as: improving
your status with search engines, getting articles and press releases written about your
site, linking your site with affiliate sites and (in the case of network marketing) not
realizing the benefits of helping others have online success.
These are all simple errors that you can easily avoid.
The first important step is to get yourself a reliable, established mentor (this is especially
important with Multi-Level Marketing (MLM) or network marketing). Is your mentor
available for support or instruction either online, over the phone or even in person?
How much money are you required to put out before you can get such help (if you!re
being asked to shell out hundreds of dollars, treat this as suspect)?
The second step is to learn how to market effectively. How can you hone in on and
attract your target audience? How can you get assistance with the initial - and costly -
advertising fees? How can you create longevity for your online business, also known as
residual income?
The next step is to stay on top of it all. Budgeting your time wisely and creating the time
to work on your business each day is no small commitment, particularly if you have a
full time job and/or family. But, unless you can organize your life to make time for your
home-based business, you are heading for a train wreck and a world of frustration and
fruitless efforts.
Join the 5% club today and do not fall into the same trap that over 90% of home-based
business owners fall into. Be smart, be consistent, and above all, be relentless.
You may not find the opportunity of a lifetime on your first try, but if you focus and work hard,your success with your home-based business is just around the corner.
Paul Birdsall teaches online marketing through his FREE 7 Day Online Success Boot Camp. You can learn more about Paul and take his online boot camp here: http://www.7DayOnlineBootCamp.com
You can also learn more about me at Facebook: http://www.facebook.com/people/Paul-Birdsall/816710462?
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